Learn about the highlights of the Impossible Finance project with 3 tokens: IF, IFUSD & IDIA Token in the article below.
What is Impossible Finance?
Impossible Finance is a suite of financial products that includes an AMM (automated market maker), Launchpad (fundraising platform), and Incubator similar to Y Combinator in traditional finance
Impossible Finance Highlights
As an AMM, the project aims to expand its influence by building a fundraising platform. This platform will help:
- Ordinary users: Provide access to top-tier deals and opportunities to build an ecosystem of fundraising projects on the platform.
- Projects: Not only provide “Fair Launch” but also “Smart Launch,” connecting projects with top-tier VCs and ordinary users.
The project will have 2 tokens:
- IF: Impossible Finance governance token.
- IDIA (IF Decentralized Incubator Access): Launchpad governance token and used to participate in IDO.
Initial projects will be in the following categories: User-facing Tools, Assets (Synths), Markets (DEXs and AMMs), NFTs, Lending, Scaling, Privacy, and Infrastructure. Projects may fit into multiple categories. Other categories can be added by the community through IF governance.
IDIA holders also control IDIADAO, an on-chain fund used to invest in projects on Impossible Finance, with profits used for the “Buyback & Make” IDIA mechanism.
A highlight of Impossible Finance is that the team does not follow the IDO path of previous IDO projects, but wants to participate in advising projects preparing for token sales in terms of technology, model, etc., based on the experience of Impossible Finance, with Calvin Chu – Founder of the project, having previously worked on the project appraisal team of Binance Launchpad.
Some typical projects from Binance Launchpad: Band Protocol, Polygon (formerly Matic), Axie Infinity, The Sandbox, …
IF’s model will filter out many users who come to IDO for short-term profits through b2d – business to developer: Selecting quality projects for Launching, thereby attracting users.
If you have read the old WhitePaper, you will see another token: IFUSD is a Synthetic Stablecoin, minted from IF, which is the main currency for project fundraising. But in the new WhitePaper version, the project has removed this token, so be careful not to be scammed.
On August 17, 2021, the IDIA token of Impossible Finance was also IDO on the project’s own launchpad, as well as the first IDO on Impossible Finance.
Information about IDIA Token
Today’s IDIA price
IDIA Key Metrics
- Token Name: Impossible Finance Token.
- Ticker: IDIA.
- Blockchain: Binance Smart Chain.
- Token Standard: BEP-20.
- Contract: 0x0b15ddf19d47e6a86a56148fb4afffc6929bcb89
- Token type: Utility, Governance.
- Total Supply: 6,980,129 IDIA.
- Circulating Supply: Updating…
IDIA Token Allocation
- Ecosystem & Incubates: 25%
- DAO & DAO Comm. Partners: 21%
- Team: 20%
- Strategic Sale: 15%
- Staking Rewards: 10%
- Reserves: 5%
- Initial Liquidity Provision: 2%
- Gitcoin Grant: 2%
IDIA Token Release Schedule
IDIA Token Use Case
As mentioned, the IF and IDIA tokens have the following functions:
- IF: Governance, reduced transaction fees on the Swap platform.
- IDIA: Participate in IDO.
Users can buy IDIA on exchanges
Roadmaps & Updates
Q2 2021
Technical:
- Launch Multipurpose Swap on EVM-compatible blockchains (Ethereum, Binance Smart Chain, …)
- Launch IF staking and IFUSD minting on Ethereum, Binance Smart Chain, and Polygon
- Launch IDIA on Binance Smart Chain, then Ethereum
- Launch Incubation Sale Product
- Launch IF governance interface
- Launch IDIADAO voting interface
Operational:
- Complete fundraising
- Incubate 15 projects
- Launch the first IDO
Q3 2021
Technical:
- Create IDIA index and automated no-loss strategies & investment products
- Explore other EVM blockchains
- Integrate index and investment tools
Operational:
- Complete 10 sales through Impossible Incubator
- Integrate 5 on-chain funds to invest with IDIADAO
Q4 2021
Technical:
- Explore non-EVM blockchains
- Support multi-collateral IFUSD
- Explore additional profit strategies with lending and yield pool integration
Operational:
- Complete 10 sales through Impossible Incubator
- Integrate 10 on-chain funds to invest with IDIADAO
Team & Investors
Team
Calvin Chu – Founder: Previously worked at Binance Research, helping BSC surpass many blockchains to become one of the most popular blockchains today.
He was also a validator for projects listed on Binance Launchpad.
Investors
Impossible Finance has raised $7M from names like Alameda Research, Hashed, Coin98 Ventures, CMS, LongHash, …
In addition, there are several other strategic investors including: 0xMaki of Sushi; Jiho, Psychout of Axie Infinity, Santiago Roel Santos – former partner of Parafi…
